Western Europe is “losing” the economic competition with its main rivals, China and the US, and is struggling with a shortage of globally competitive companies, JPMorgan Chase CEO Jamie Dimon has said.
Since 2022, when the EU imposed sweeping sanctions on Russian energy over the Ukraine conflict, growth across the bloc has stagnated. Germany, once its economic powerhouse, is now experiencing its third year of economic downturn.
Europe is losing – JPMorgan CEOThe region’s economic competitiveness is dwindling, Jamie Dimon has warned
Moscow has argued that EU restrictions are self-defeating, causing surging energy prices and weakening the bloc’s economy.